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The Week Ahead

Oil Search and Newcrest are set to report quarterly production numbers, while manufacturing data from China, the US and Europe will be closely watched.
By · 18 Apr 2014
By ·
18 Apr 2014
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The coming week is just a three-day work week for many, bookended by the Easter Monday and Anzac Day public holidays.

Locally, more resources sector production reports are due, with releases from Newcrest and Oil Search scheduled. The release of official inflation data will also be closely watched after last quarter’s stronger-than-forecast read.

Offshore, updates on the manufacturing sectors in China, the United States and Europe will be of interest, as will official US housing data.

RBA

The Reserve Bank of Australia is set for a quiet week, with no major releases scheduled.

Local news

Local newsflow is set to be light, with the CPI data drop the main release of interest.

On Monday, the sharemarket will be closed for the Easter Monday public holiday.

On Wednesday, the Australian Bureau of Statistics will publish consumer price index data for March. The headline inflation read is tipped to print at 0.8 per cent in the quarter and 3.2 per cent annually, while the seasonally adjusted figure is forecast to be 0.7 per cent in the quarter.

The inflation figures will be closely watched after a higher-than-expected December read of 0.8 per cent in the quarter and 2.7 per cent annually.

The Department of Employment will also divulge internet job vacancy numbers.

On Friday, the sharemarket will again be closed for the Anzac Day public holiday.

Corporate

Production reports from the resources sector are in focus this week.

On Tuesday, Oil Search will release its fourth-quarter production report.

On Wednesday, Newcrest will publish its third-quarter production report.

On Thursday, Atlas Iron will post its March quarter results.

Overseas

Investors will be watching the latest update on the Chinese manufacturing sector this week, as well as official housing data from the United States.

The US profit reporting season will also continue, with releases due from McDonalds, Apple, AT&T, Boeing, Facebook, Amazon, Microsoft and General Motors.

On Tuesday, in the United States, the March leading index is expected to lift by 0.6 per cent, while the Chicago Fed national activity index is scheduled.

On Wednesday, in China, the HSBC flash manufacturing purchasing managers’ index for April is expected.

In the United States, March existing home sales are tipped to fall by 1.1 per cent, month on month.

The Federal Housing Finance Agency will disclose February home prices data.

Meanwhile, the flash European manufacturing purchasing managers’ index for April is due.

On Thursday, Bloomberg’s China economic survey for April is due.

In the United States, March new home sales are expected to rise by 3.4 per cent, month on month, while the April flash manufacturing purchasing managers’ index will print.

On Friday, weekly jobless claims and the Bloomberg consumer comfort survey will be disclosed.

March durable goods orders are tipped to lift by 1.5 per cent.

Late Friday, the University of Michigan confidence survey is scheduled, while the flash Markit services purchasing managers’ index is due.

Wrapping up

On Wednesday, in Canberra, opposition spokesman for immigration and border protection Richard Marles will speak at the National Press Club.

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Elizabeth Redman
Elizabeth Redman
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